To amend the Internal Revenue Code of 1986 to provide an advance refundable credit to offset certain flood insurance premiums, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Flood Insurance Affordability Tax Credit Act, reduces a tax credit, tax deduction, compliance mandate provision: 2. Refundable credit for certain flood insurance coverage Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is, and reduces a tax credit, tax deduction, compliance mandate provision: 36C. It relies on compliance mandates, tax credits, tax deductions, and definition changes. The main policy areas are Finance and Environment.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Expands a tax credit provision: 1. Short title This Act may be cited as the Flood Insurance Affordability Tax Credit Act.
- Reduces a tax credit, tax deduction, compliance mandate provision: 2. Refundable credit for certain flood insurance coverage Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is...
- Reduces a tax credit, tax deduction, compliance mandate provision: 36C.
- Reduces a compliance mandate, definition change provision: 3. Advance payments Chapter 77 of the Internal Revenue Code of 1986 is amended by inserting after section 7527A the following new section: The Secretary shall...
- Reduces a compliance mandate, definition change provision: 7527B.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Flood Insurance Affordability Tax Credit Act, reduces a tax credit, tax deduction, compliance mandate provision: 2. Refundable credit for certain flood insurance coverage Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is, and reduces a tax credit, tax deduction, compliance mandate provision: 36C.
Key Policy Areas
Finance, Environment
Primary Purpose
The bill expands a tax credit provision: 1. Short title This Act may be cited as the Flood Insurance Affordability Tax Credit Act, reduces a tax credit, tax deduction, compliance mandate provision: 2. Refundable credit for certain flood insurance coverage Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is, and reduces a tax credit, tax deduction, compliance mandate provision: 36C.
Policy Domains
Sponsors
Legislative Progress
IntroducedMr. Cassidy (for himself and Mr. Booker) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
- "administrator_of_fema"
- → Administrator of the Federal Emergency Management Agency
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology